View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
February 24, 2020

Indian payments firm BharatPe secures $75m in new funding

Indian digital payments firm BharatPe has secured $75m in the Series C funding round raising its valuation to $425m.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

The round was led by Coatue Management and fintech investor Ribbit Capital. The company’s existing backers Insight Partners and Steadview Capital and new investor Amplo also joined the round.

Overall, the digital payments firm has raised a total of $143m through all investment rounds. In August last year, BharatPe secured a $50m investment.

According to an Economic Times report, the new proceeds will be used to support its NBFC unit Resilient Capital. The unit, which currently awaits central bank approval, will offer credit to small merchants.

BharatPe co-founder and CEO Ashneer Grover was quoted by the publication as saying: “We have already disbursed Rs 100 crore [INR1bn] of term loans to merchants through partner NBFCs and are ready to extend lines of credit to our merchants, for which we need our own NBFC to innovate.

“We applied for the licence in August last year and we’re hoping we’ll get the license from the RBI by March.”

The funding will also be used to scale up its business by investing in new products and technology.

Coatue Management managing director Rahul Kishore told the publication: “India is one of the largest internet markets in the world, but many of the country’s merchants are still offline.

“BharatPe has developed a dynamic financial technology platform that brings small businesses throughout India into the digital age.”

Currently, BharatPe serves around three million merchants across 30 cities. It aims to increase the figure to eight million by the end of March next year.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International